CANADA STOCKS - Factors to watch on Sept 16

Tue Sep 16, 2008 8:44am EDT
 
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TORONTO, Sept 16 (Reuters) - Canada's S&P/TSX composite index .GSPTSE may face pressures from continued financial turmoil in the United States and from lower oil prices. Here is some of the news that could influence the market. Reuters has not verified the accuracy of press reports.

AMERICAN INTERNATIONAL GROUP INC (AIG.N: Quote)

AIG, which was thrown a $20 billion lifeline from New York state, came under fresh pressure as rating agencies downgraded the insurer's debt. [ID:nSP46833] The development follows a global markets meltdown on Monday after Lehman Brothers Holdings Inc LEH.N filed for bankruptcy protection. For details, see [ID:nN13574113]

U.S. FED RATE DECISION

The U.S. Federal Reserve sets interest rates on Tuesday, with an announcement due around 2:15 p.m. EDT. Short-term interest rate futures are pricing in a cut of 25 basis points. Investors will scrutinize the accompanying statement for clues about corporate prospects.

OIL CLc1 SLIDES

Oil plunges 4 percent to below $92 a barrel on worries turmoil in global financial markets will further undermine fuel demand, and on reports that U.S. oil infrastructure had been spared major damage from Hurricane Ike. [ID:nSP317159]

GOLD, BASE METALS SLUMP

Gold slips nearly 2 percent to around $776 an ounce as the U.S. dollar firmed ahead of the Fed rate decision [ID:nLG459540], while base metals sagged [ID:nLG521957]   Continued...